The 2023-2028 World Outlook for Engineering Services

The 2023-2028 World Outlook for Engineering Services

This study covers the world outlook for engineering services across more than 190 countries. For each year reported, estimates are given for the latent demand, or potential industry earnings (P.I.E.), for the country in question (in millions of U.S. dollars), the percent share the country is of the region, and of the globe. These comparative benchmarks allow the reader to quickly gauge a country vis-à-vis others. Using econometric models which project fundamental economic dynamics within each country and across countries, latent demand estimates are created. This report does not discuss the specific players in the market serving the latent demand, nor specific details at the product level. The study also does not consider short-term cyclicalities that might affect realized sales. The study, therefore, is strategic in nature, taking an aggregate and long-run view, irrespective of the players or products involved.

This study covers engineering services as defined by the North American Industrial Classification system or NAICS (pronounced "nakes").

The NAICS code for engineering services is 54133. It is for this definition that aggregate latent demand estimates are derived. Engineering services is specifically defined as follows:

54133 See industry description for 541330.

541330 This industry comprises establishments primarily engaged in applying physical laws and principles of engineering in the design, development, and utilization of machines, materials, instruments, structures, processes, and systems. The assignments undertaken by these establishments may involve any of the following activities: provision of advice, preparation of feasibility studies, preparation of preliminary and final plans and designs, provision of technical services during the construction or installation phase, inspection and evaluation of engineering projects, and related services.

5413301 Building-related engineering

5413302 Nonbuilding-related engineering

541330P Primary services

541330SM Other receipts